Orange IM facilitates transaction of Nokia Arena car park in Tampere, Finland
AIF Capital Group has expanded its European Parking Fund portfolio with the acquisition of the Nokia Arena underground car park in Tampere, Finland. With an investment of approximately €11.5 million, AIF Capital Group focuses on diversification in a politically and economically stable market. The underground car park is part of an innovative urban development project and plays a key role in the strategic growth of the fund.
Completed in 2021 as part of the urban development project 'Asemakeskus,' the car park is located in Tampereen Kansi, a district in Finland’s third-largest city. It boasts excellent connections to a wide target audience and benefits from positive demographic and economic trends in the region. Tampere is recognized as one of Finland’s most important scientific and economic centers and is the country’s most desirable city to live in, as evidenced by its continuous population growth. In summary, the underground car park operated by AIMO Park offers significant growth potential due to its prime location, broad appeal, and the surrounding developments, making it a highly attractive investment for the fund.
AIMO Park, one of the leading mobility providers in the Nordic region, combines over 50 years of parking management experience with innovative solutions such as car sharing and electric vehicle charging infrastructure. The company operates parking facilities in more than 250 cities across Scandinavia, bridging the gap between traditional parking and modern mobility solutions.
“This transaction presented us with unprecedented challenges, which we were able to overcome successfully through close collaboration within our team and with our partners. With this property, we not only expand the portfolio of the European Parking Fund with a prime asset in a central urban location but also open up a new and promising market,” explains Daniel Wolf, Managing Director of AIF Management GmbH.
Legal advice for this transaction was provided by leading business law firm DLA Piper, which has an extensive presence in Scandinavia. The car park was sold to AIF Capital Group by the Tampereen Tornit KY joint venture and mediated by Orange IM.
“The ongoing transformation of urban mobility concepts and the increasing shortage of parking spaces in European cities highlight the strategic importance of this investment and strengthen our position as a leading provider in the parking real estate sector,” emphasizes Daniel Wolf, underlining AIF Capital Group’s role in forward-looking and diversified real estate investments.